Alphatec (NASDAQ:ATEC) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Alphatec (NASDAQ:ATEC) had its price objective increased by Needham & Company LLC from $13.00 to $16.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

Other analysts also recently issued research reports about the company. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research note on Thursday, October 31st. Barclays upped their price objective on Alphatec from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Alphatec currently has an average rating of “Moderate Buy” and a consensus target price of $17.44.

Alphatec Trading Up 2.1 %

Shares of NASDAQ ATEC opened at $11.35 on Monday. Alphatec has a twelve month low of $4.88 and a twelve month high of $17.34. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -8.87 and a beta of 1.41. The company’s fifty day moving average is $9.59 and its 200-day moving average is $8.03.

Insider Activity at Alphatec

In related news, EVP David Sponsel sold 58,283 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $10.71, for a total transaction of $624,210.93. Following the sale, the executive vice president now owns 502,311 shares in the company, valued at approximately $5,379,750.81. This trade represents a 10.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 22.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

Several hedge funds and other institutional investors have recently modified their holdings of ATEC. Point72 Asset Management L.P. lifted its stake in Alphatec by 65.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company’s stock valued at $33,365,000 after purchasing an additional 1,260,137 shares during the last quarter. Magnetar Financial LLC bought a new stake in shares of Alphatec in the 2nd quarter valued at $10,957,000. Polar Asset Management Partners Inc. raised its holdings in shares of Alphatec by 381.9% during the third quarter. Polar Asset Management Partners Inc. now owns 621,224 shares of the medical technology company’s stock valued at $3,454,000 after purchasing an additional 492,324 shares during the period. Granite Investment Partners LLC boosted its holdings in Alphatec by 130.2% in the second quarter. Granite Investment Partners LLC now owns 664,201 shares of the medical technology company’s stock worth $6,941,000 after acquiring an additional 375,621 shares in the last quarter. Finally, AlphaCentric Advisors LLC bought a new stake in Alphatec during the 3rd quarter valued at $2,057,000. Institutional investors own 66.35% of the company’s stock.

About Alphatec

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.